RAPAPORT... Lab-grown diamonds offer a traceable, conflict-free, socially responsible jewelry option. Consumer opinion has shifted to value corporate social responsibility, with transparency and environmental issues being at the core. Millennials and Generation Z seek products and companies that improve society, and lab-grown diamonds offer a safe alternative for those who are concerned about...Read More

RAPAPORT... Brilliant Earth, which specializes in selling ethically sourced diamonds and jewelry, has announced plans to become a public company on the Nasdaq stock exchange."There is a massive growth opportunity ahead," the online-focused US retailer said Monday in its initial public offering (IPO) filing. "We are less than 1% penetrated in the jewelry category today. With our purpose-driven bran...Read More

(IDEX Online) - There was a raft of price rises among low-clarity 3.00-3.99 ct rounds and clusters of drops in some smaller goods during August. Little movement for fancies. Price drops dominate in round goods under 0.90-ct but there are some significant rises among larger stones. The most notable is in 3.00-3.99 ct, where there were price rises among virtually all goods F-N / I1-I3. T...Read More

Aluminium producer Emirates Global Aluminium (EGA) plans to expand its production of sustainable aluminium, according to Salman Abdulla, executive vice president of health, safety, sustainability, environment, fire and rescue, quality, and business transformation.The company said in February that it would supply 43,000 tonnes per year of CelestiAL aluminium to BMW Group. EGA has supplied meta...Read More

Chile's Ministry of Energy & Mining has unveiled a national mining policy that will run until 2050, the Pol?-tica Nacional Minera 2050, which sets out a series of initiatives intended to decrease the amount of water used by the country's mining industry, as well as to increase transparency across the sector.The policy blueprints were published on Tuesday August 31.The government initiative, which...Read More

Almost all London Metal Exchange base-metals prices fell under pressure at the end of the day on Wednesday September 1, to start the new month on the back foot following a small pickup in prices in the last week of August.The base-metals complex came under pressure on Wednesday morning after the release of the Chinese Caixin manufacturing purchasing managers' index (PMI). This dropped to 49.2 in A...Read More

Premiums for nickel full plates spiked in Shanghai after an arbitrage for imports opened wide over the week ended Tuesday August 31. Premiums elsewhere were stable although a freight crisis in the United States could prompt a future rise in that market.China premiums rise to 2-year highSHFE short squeeze said to bolster import arbitrageUS rates stable amid trucking shortage.China full plate premiu...Read More

Chile's state-owned copper producer Codelco has removed the threat of strike action by signing a final labor deal with the unions representing employees at its El Teniente division.The new terms of the labor agreement will be in place until the end of 2024, the company said on Tuesday August 31.Codelco had reached an agreement with the El Teniente and Caletones unions on August 28, but the deal no...Read More

Hot-rolled coil prices in the United States rose marginally day on day, while some market sources reported that coil prices were plateauing after a year of weekly gains.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.25 per hundredweight ($1,925 per short ton) on Wednesday September 1, up by 0.08% from $96.17 per cwt on Tuesday August 31 and by 0.99% from $95.31 p...Read More

Turkey exported 526,606 tonnes of flat steel products in July 2021, according to the Turkish Statistical Institute (TUIK), up by 3.02% year-on-year from 511,188 tonnes exported in July 2020.The main reason for the moderate increase was strong demand for flat steel in the country's local market, especially in March, when orders for material to be delivered in July were received.In addition, the Eur...Read More

The export slab price from Iran decreased in the week to Wednesday September 1 after a fresh booking was heard at a lower level.Khouzestan steel, one of the country's largest slab exporters, finalized a tender for 40,000 tonnes of material to be shipped in mid-September at $680 per tonne fob southern ports, sources told Fastmarkets.Read More

Prices for steel hollow sections in Europe remained steady on Wednesday September 1, and trading remained thin ahead of a possible downward trend, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,654-1,690) per tonne on Wednesday, unchanged week on week.With market participants returning after the sum...Read More

The company extended a credit facility with senior project lender KfW IPEX-Bank to September 30 and is in discussions regarding a longer-term extension into 2023.Read More

Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally weaker on the morning of Wednesday September 1, in the face of further evidence of a slowdown in manufacturing activity.* Chicago’s manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July* China’s Caixin manufacturing PMI also showed contraction with a fall to 49.2...Read More

Brazilian iron ore export volumes increased by 11.68% year on year in August, according to figures released by the country's economy ministry on Wednesday September 1.Volumes exported came to 34.84 million tonnes last month, compared with 31.19 million tonnes a year earlier. Brazil-based mining company Vale has been...Read More

Lackluster finished steel demand has reportedly put a halt to Turkish deep-sea ferrous scrap purchases, with no deals heard from the United States East Coast to the region since August 20.But the recent emergence of a lower-priced Baltic Sea cargo sale to a mill in the Iskenderun region suggests that there is further downside due for US ferrous scrap export prices if they follow the ongoing global...Read More

Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov."I do not forecast any export duties for the next year. I do not see any grounds for that because prices started to decline and markets are cooling down, Evtukhov said on the sidelines of a panel discussion...Read More

Turkish steel producers remained out of the deep-sea scrap market on Wednesday September 1, booking no new cargoes, market participants said.No new cargoes were heard booked on the market, which was described as "quiet." Mills were said to be trying to bid at prices that were lower by as much as $10 per tonne from the previous transaction...Read More

Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The European-origin cargo was heard late on August 27, after the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on August 30.The cargo was booked by a steel mill in th...Read More